HYG Monthly: This is broken. Fed buying junk and it's still broken. Almost back to levels prior to the announcement. pic.twitter.com/aGlP2uL2Gg
— Simply Vertical (@Simple_Trends) April 23, 2020
big gap between $HYG and $SPY #ES_F today, real block sellers of HYG all day as it decouples from equities (perhaps on back of cluster of defaults, latest $HTZ) – but such divergence means one of them is right and the other is wrong looking forward
— Tian (@RealTianZeng) April 24, 2020
I don't think we're talking enough about how the Fed buying high-yield (junk) bonds is a massive bailout to shale oil producers. 40% of HY bonds in the US are shale companies. Fed is basically backstopping their borrowing costs. Ridiculous.
— Tyler Bryant (@tyler_bryant) April 24, 2020
Fed buying junk bonds & unlimited QE
ECB buying junk bonds & corporate bonds & QE
BOJ discussing unlimited bond buying owns virtually all ETFsZero to negative rates all of them.
Central banks are weapons of economic mass destruction.
No sense.
No limits.
No exit strategy.— Sven Henrich (@NorthmanTrader) April 23, 2020
Longer term HYG risk proxy and S&P 500 are now back after massive Fed backed move. Interesting that HYG is trending down while Spooz are running higher. Careful peeps. pic.twitter.com/0fvIcnj335
— Gubb (@gubbmintcheese) April 24, 2020
The Coming Default Crisis With Online Loans
“In my 30 years of doing this, I’ve never seen payments impairments spike so quickly.”https://t.co/q1jckWH3DH pic.twitter.com/7EeQW5aCW1
— Jonathan Tepper (@jtepper2) April 24, 2020